Home| Last updated | 3rd April 2012 |
|---|---|
Charges | Charges are subject to VAT although shown excluding VAT |
| Initial/Set up fee | £425 |
| Annual fee | £480 |
| Transfer in fee | £75 per cash transfer |
| Transfer out fee | £75 per transfer |
| In-specie transfer in fee | £250 (which replaces the £75 transfer in charge) plus: Re-registration of unit trusts and OEICs, £50 per investment holding Transfer of an investment account, within the terms of a discretionary or non discretionary inestment agreement, where all assets are held in the nominee name, £250 per account Assisgnments for insurance policies, £225 per deed. Property transfers in are charged for as a property purchase |
| Income Drawdown | Initial: £150 Ongoing: £180 per year |
| Additional Income Drawdown fees | Income Drawdown reviews, £150 per review Flexible Drawdown initial fee, £75 Flexible Drawdown closure fee, £75 |
| Annuity purchase fee | £75 |
| Payment of death benefits fee | Time costed |
| Other fees | Per investment transaction, £30 Bank account set up fee, £50 Telegraphic transfer of funds £25 |
Management | |
| Access: Direct or via IFA | Both |
Online capability | |
| Details | Literature and illustrations can be accessed online. No direct online investment ability except via Investment Manager |
Permitted Investments | |
| Commercial property | Yes |
| Unit trusts & OEICS | Yes, all platforms allowed |
| External deposit accounts | Yes, unrestricted access to all 'sippable' deposit accounts |
| Overseas listed stock and shares | Yes, all stockbrokers allowed |
| UK listed stocks and shares | Yes, all stockbrokers allowed |
| AIM shares | Yes, all stockbrokers allowed |
| Gilts/corporate bonds | Yes, all stockbrokers allowed |
| ETFs | Yes, all stockbrokers allowed |
| Investment trusts | Yes, all stockbrokers allowed |
| Discretionary management | Yes, unrestricted access |
| National Savings & Investments | Yes |
| Unlisted shares | Investment in unquoted trading company shares is not permitted. Investment in investment vehicles that have been established using an unquoted share structure may be permitted subject to review |
| Structured products | Yes |
| Trustee Investment Plans | Yes |
| Insurance company funds | Yes |
| Hedge funds | Yes |
| Traded endowment plans | Yes |
Property purchase | |
| Purchase fee | £550 per property plus £250 if money is borrowed to purchase the property |
| Sale fee | £300 per property plus £100 if borrowing is repaid Additional £100 if property which is sold is held jointly |
| Annual property administration fee | £360 per property £120 loan administration fee (per loan) |
| VAT registration fee | £100 |
| VAT return fees | £120 |
| Other fees | Joint property purchase per member, £100 New lease / lease reneal, £250 |
SIPP Bank Account | |
| SIPP bank account provider | Bank of Ireland |
| Current interest rate | 0.00% |
Structure | |
| Scheme trustees | A J Bell PP Trustees |
| Scheme administrator | AJ Bell Management Limited |
Minimum contributions | |
| Regular payments | None |
| Transfers/Single Premiums | None |
| Min additional | None |
Company Information | |
| Ownership | Invesco Perpetual and Midas Capital own 36% and 10% respectively of the share capital, the remainder being owned by Andy Bell and the management team |
| Year established | 1995 |
| Funds under management | £15.3 bn |
| Number of SIPPs administered | 60,000 |
Transfers | |
| Accepts benefits from defined benefit / final salary schemes? | Yes, if IFA advised |
Misc | |
| Flexible Drawdown offered | Yes |
| Notes | *Across AJ Bell Group |
